The company’s recent poor performance recently has been at least partly blamed on the departure of experiences sales agents.

The 2017 full year profit at McGrath fell 42% to $4.871 million. CEO Cameron Judson said the market had been challenging with property listings down 11% and the loss of a number of “high performing” sales agents.

In the latest results announcement, the company didn’t give numbers for sales agents departing. However, in a February update the company said 36 sales agents had left, leaving 225 still with the company.

McGrath, which floated in December 2015, raising $129.6 million, is the only ASX-listed real estate company. Its shares last traded at $0.805, up 2.5% today, but a long way from the IPO price of $2.10.